What is the effective annual interest rate

Reference no: EM13276303

Costs of Borrowing: Come and Go Bank offers your firm a discount interest loan at 9% compensating balance against the amount borrowed. What is the effective annual interest rate on this lending arrangement?

Reference no: EM13276303

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What is the effective annual interest rate : Costs of Borrowing: Come and Go Bank offers your firm a discount interest loan at 9% compensating balance against the amount borrowed. What is the effective annual interest rate on this lending arrangement?

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